Eric Trump vows to SUE TrumpCoin after crypto coin took family name

ERIC Trump announced on Monday that he is planning to take legal action against the cryptocurrency 'TrumpCoin.'

The third child of former President Donald J. Trump is vowing to take legal action against a cryptocurrency that is using his family's name.

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It seems that the Trump family has just become aware of a cryptocurrency called 'TrumpCoin,' five years after the digital currency first launched.

Eric Trump acknowledged the crypto's existence for the first time on on Monday.

"Fraud Alert: It has come to our attention that someone is promoting a cryptocurrency called "TrumpCoin" (Symbol  "TRUMP.")," he tweeted.

"This has NOTHING to do with our family, we do not authorize the use and we are in no way affiliated with this group. Legal action will be taken," the tweet continued.

The official TrumpCoin Twitter account clapped back at the younger Trump's accusations, saying that it never claimed to be associated with the former president's brand.

The account also took it upon itself to reply to other Twitter users, directing them to the TrumpCoin's FAQ page where it states there are no ties with the Trump brand.

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"Trumpcoin.com is not owned, operated, endorsed by, or otherwise affiliated with Donald J. Trump, the Trump Organization, Donald J. Trump for President Inc, or any other organization owned and/or operated by Donald J. Trump or any of his affiliates," the states.

The company also stated on their website that the coin, which was created based on Bitcoin technology, aims to honor Donald J. Trump.

"We feel this is a misunderstanding and we are in the crossfire," a Trumpcoin spokesperson told CNET about the allegations by Trump.

Trumpcoin was created on February 20, 2016, and is currently priced at 26 cents, according to Coinbase.

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